MOUT 4: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MOUT 4
Largest movements
- Tangible fixed assets -€42,593
down €42,593 (-2.4%), from €1.8m to €1.7m
of which Land and buildings: -€119,093
- Other debts -€21,978
down €21,978 (-5.9%), from €372,045 to €350,067
- Gross operating margin +€89,531
up €89,531 (+77.3%), from €115,811 to €205,342
- Depreciation -€38,605
down €38,605 (-21.7%), from €177,790 to €139,186
- Taxes +€18,131
new in 2025: €18,131
- Other operating charges +€11,088
up €11,088 (+1,155%), from €960 to €12,048
- Staff costs +€8,944
up €8,944 (+22.0%), from €40,706 to €49,649
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,852,216 | €1,808,832 | -€43,384 | -2.3% |
| Fixed assets | 21/28 | €1,784,642 | €1,742,049 | -€42,593 | -2.4% |
| Tangible fixed assets | 22/27 | €1,784,279 | €1,741,686 | -€42,593 | -2.4% |
| Land and buildings | 22 | €1,681,879 | €1,562,786 | -€119,093 | -7.1% |
| Furniture and vehicles | 24 | €102,400 | €178,900 | +€76,500 | +74.7% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €67,574 | €66,783 | -€791 | -1.2% |
| Amounts receivable within one year | 40/41 | €7,504 | €21,673 | +€14,169 | +189% |
| Trade receivables | 40 | €2,989 | €21,324 | +€18,336 | +614% |
| Other amounts receivable | 41 | €4,515 | €348 | -€4,167 | -92.3% |
| Cash at bank and in hand | 54/58 | €59,085 | €44,124 | -€14,961 | -25.3% |
| Deferred charges and accrued income | 490/1 | €986 | €986 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,852,216 | €1,808,832 | -€43,384 | -2.3% |
| Equity | 10/15 | €78,825 | €63,449 | -€15,376 | -19.5% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €131,306 | €131,306 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €118,306 | €118,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,481 | -€132,857 | -€15,376 | -13.1% |
| Amounts payable | 17/49 | €1,773,391 | €1,745,382 | -€28,009 | -1.6% |
| Amounts payable after more than one year | 17 | €1,385,000 | €1,385,000 | = | 0.0% |
| Financial debts | 170/4 | €1,385,000 | €1,385,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €387,635 | €360,382 | -€27,253 | -7.0% |
| Trade debts | 44 | €429 | €0 | -€429 | -100% |
| Suppliers | 440/4 | €429 | €0 | -€429 | -100% |
| Taxes, remuneration and social security | 45 | €15,161 | €10,315 | -€4,846 | -32.0% |
| Taxes | 450/3 | €7,220 | €3,782 | -€3,438 | -47.6% |
| Remuneration and social security | 454/9 | €7,940 | €6,533 | -€1,407 | -17.7% |
| Other amounts payable | 47/48 | €372,045 | €350,067 | -€21,978 | -5.9% |
| Accrued charges and deferred income | 492/3 | €756 | €0 | -€756 | -100% |
| Non-recurring operating income | 76A | - | €80,253 | +€80,253 | |
| Remuneration, social security and pensions | 62 | €40,706 | €49,649 | +€8,944 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,790 | €139,186 | -€38,605 | -21.7% |
| Other operating charges | 640/8 | €960 | €12,048 | +€11,088 | +1,155% |
| Gross operating margin | 9900 | €115,811 | €205,342 | +€89,531 | +77.3% |
| Operating profit (loss) | 9901 | -€103,646 | €4,459 | +€108,104 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €177 | €1,703 | +€1,526 | +862% |
| Recurring financial charges | 65 | €177 | €1,703 | +€1,526 | +862% |
| Profit (loss) for the period before taxes | 9903 | -€103,823 | €2,755 | +€106,578 | |
| Income taxes | 67/77 | - | €18,131 | +€18,131 | |
| Profit (loss) for the period | 9904 | -€103,823 | -€15,376 | +€88,447 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€103,823 | -€15,376 | +€88,447 | +85.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.